AIG, Martha Stewart Living, Zale are big movers

AP News
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Posted: May 25, 2011 5:13 PM
AIG, Martha Stewart Living, Zale are big movers

Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

American International Group Inc., down $1.18 at $28.28

The government is selling off a chunk of its stake in the insurer, pricing 300 million shares at $29 apiece.

Martha Stewart Living Omnimedia Inc., up 90 cents at $4.67

The media and merchandising company hired Blackstone to review investment and partnership offers from other companies.

Zale Corp., up 81 cents at $5.23

The diamond retailer's loss shrank in the latest quarter, despite increasing costs, as it posted a double-digit revenue gain.

Collective Brands Inc., down $3.06 at $15.31

The Payless ShoeSource stores owner's quarterly profit fell by half due to shoppers' rising costs for food and gas.

Polo Ralph Lauren Corp., down $14.69 at $114.70

The clothing company said its international investments and rising costs will weigh on profit margins in the next fiscal year.

Hormel Foods Corp., down $1.43 at $28.59

The food company raised its 2011 outlook, but concerns about rising commodity prices hurting profit growth weighed on shares.

Nasdaq

California Pizza Kitchen Inc., up $1.76 at $18.47

Private equity firm Golden Gate Capital is buying the restaurant chain for about $470 million, or $18.50 per share.

Express Inc., down $2.75 at $20.12

A disappointing second-quarter forecast raised fears that the clothing chain's recent sales momentum is slowing.